Global High Voltage Cable Market is estimated to reach $52 billion by 2024; growing at a CAGR of 6.3% from 2016 to 2024. High voltage cable (HVC) is used for high voltage electric power transmission over long distances. Wide application areas such as overhead lines, underground cables, and submarine cables pose a huge demand for high voltage cables. Rise in urbanization and growing industrialization coupled with rise in wind and solar power plants have supplemented the growth of the HVC market. Various features such as presence of additional insulation jacket that minimizes power loss, and enhanced stability in comparison to other cables have increased its penetration in the market.

Growth in industrialization & urbanization, and rise in trend of underground wiring are the major factors driving the global high voltage cable market. However, high price of metals such as aluminium and copper would act as a restraint for the market. Surge in number of offshore power projects and increasing government investments in smart grid technology would provide several growth opportunities for the market in the coming years.

The global high voltage cable market has been segmented on the basis of product type and end user. By product type, the market is further segmented into overhead, submarine, and underground. By end user, the market is categorized into renewable energy, industrial, and infrastructure.

Based on geography, the global high voltage cable market has been segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, Italy, Sweden, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. Rest of the World (RoW) covers South America, Middle East and Africa.